BENTLEY SYSTEMS INC-CLASS B (BSY) Stock Fundamental Analysis

NASDAQ:BSY • US08265T2087

32.48 USD
+0.14 (+0.43%)
At close: Feb 25, 2026
32.48 USD
0 (0%)
After Hours: 2/25/2026, 8:00:02 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

5

Overall BSY gets a fundamental rating of 5 out of 10. We evaluated BSY against 274 industry peers in the Software industry. While BSY belongs to the best of the industry regarding profitability, there are concerns on its financial health. BSY is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • BSY had positive earnings in the past year.
  • In the past year BSY had a positive cash flow from operations.
  • In the past 5 years BSY has always been profitable.
  • In the past 5 years BSY always reported a positive cash flow from operatings.
BSY Yearly Net Income VS EBIT VS OCF VS FCFBSY Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

1.2 Ratios

  • With a decent Return On Assets value of 7.77%, BSY is doing good in the industry, outperforming 79.56% of the companies in the same industry.
  • With an excellent Return On Equity value of 22.53%, BSY belongs to the best of the industry, outperforming 89.05% of the companies in the same industry.
  • BSY has a Return On Invested Capital of 10.86%. This is amongst the best in the industry. BSY outperforms 85.40% of its industry peers.
  • BSY had an Average Return On Invested Capital over the past 3 years of 8.00%. This is below the industry average of 10.77%.
  • The last Return On Invested Capital (10.86%) for BSY is above the 3 year average (8.00%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 7.77%
ROE 22.53%
ROIC 10.86%
ROA(3y)7.42%
ROA(5y)7.4%
ROE(3y)30.01%
ROE(5y)29.96%
ROIC(3y)8%
ROIC(5y)10.54%
BSY Yearly ROA, ROE, ROICBSY Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

1.3 Margins

  • The Profit Margin of BSY (18.44%) is better than 81.39% of its industry peers.
  • BSY's Profit Margin has improved in the last couple of years.
  • The Operating Margin of BSY (24.23%) is better than 88.69% of its industry peers.
  • In the last couple of years the Operating Margin of BSY has grown nicely.
  • The Gross Margin of BSY (81.20%) is better than 83.94% of its industry peers.
  • In the last couple of years the Gross Margin of BSY has remained more or less at the same level.
Industry RankSector Rank
OM 24.23%
PM (TTM) 18.44%
GM 81.2%
OM growth 3Y5.52%
OM growth 5Y3.69%
PM growth 3Y21.55%
PM growth 5Y4.39%
GM growth 3Y1.43%
GM growth 5Y0.13%
BSY Yearly Profit, Operating, Gross MarginsBSY Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so BSY is still creating some value.
  • Compared to 1 year ago, BSY has more shares outstanding
  • Compared to 5 years ago, BSY has more shares outstanding
  • BSY has a better debt/assets ratio than last year.
BSY Yearly Shares OutstandingBSY Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
BSY Yearly Total Debt VS Total AssetsBSY Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.2 Solvency

  • An Altman-Z score of 3.23 indicates that BSY is not in any danger for bankruptcy at the moment.
  • BSY has a Altman-Z score of 3.23. This is in the better half of the industry: BSY outperforms 67.52% of its industry peers.
  • BSY has a debt to FCF ratio of 2.71. This is a good value and a sign of high solvency as BSY would need 2.71 years to pay back of all of its debts.
  • BSY's Debt to FCF ratio of 2.71 is fine compared to the rest of the industry. BSY outperforms 64.23% of its industry peers.
  • A Debt/Equity ratio of 1.04 is on the high side and indicates that BSY has dependencies on debt financing.
  • BSY has a worse Debt to Equity ratio (1.04) than 77.74% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.04
Debt/FCF 2.71
Altman-Z 3.23
ROIC/WACC1.05
WACC10.38%
BSY Yearly LT Debt VS Equity VS FCFBSY Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

2.3 Liquidity

  • A Current Ratio of 0.61 indicates that BSY may have some problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 0.61, BSY is doing worse than 91.24% of the companies in the same industry.
  • A Quick Ratio of 0.61 indicates that BSY may have some problems paying its short term obligations.
  • With a Quick ratio value of 0.61, BSY is not doing good in the industry: 91.24% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.61
Quick Ratio 0.61
BSY Yearly Current Assets VS Current LiabilitesBSY Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. Growth

3.1 Past

  • BSY shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 8.49%, which is quite good.
  • The Earnings Per Share has been growing by 12.41% on average over the past years. This is quite good.
  • BSY shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 11.12%.
  • BSY shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 12.93% yearly.
EPS 1Y (TTM)8.49%
EPS 3Y8.4%
EPS 5Y12.41%
EPS Q2Q%12.5%
Revenue 1Y (TTM)11.12%
Revenue growth 3Y11.93%
Revenue growth 5Y12.93%
Sales Q2Q%12.05%

3.2 Future

  • BSY is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 14.67% yearly.
  • The Revenue is expected to grow by 10.82% on average over the next years. This is quite good.
EPS Next Y11.5%
EPS Next 2Y12.52%
EPS Next 3Y12.92%
EPS Next 5Y14.67%
Revenue Next Year10.24%
Revenue Next 2Y10.33%
Revenue Next 3Y10.35%
Revenue Next 5Y10.82%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
BSY Yearly Revenue VS EstimatesBSY Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 500M 1B 1.5B 2B
BSY Yearly EPS VS EstimatesBSY Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0.5 1 1.5 2

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4

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 28.24, the valuation of BSY can be described as expensive.
  • BSY's Price/Earnings ratio is in line with the industry average.
  • The average S&P500 Price/Earnings ratio is at 27.05. BSY is around the same levels.
  • A Price/Forward Earnings ratio of 23.98 indicates a rather expensive valuation of BSY.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of BSY is on the same level as its industry peers.
  • BSY's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 28.03.
Industry RankSector Rank
PE 28.24
Fwd PE 23.98
BSY Price Earnings VS Forward Price EarningsBSY Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, BSY is valued a bit cheaper than the industry average as 67.52% of the companies are valued more expensively.
  • Based on the Price/Free Cash Flow ratio, BSY is valued a bit cheaper than 70.44% of the companies in the same industry.
Industry RankSector Rank
P/FCF 21.43
EV/EBITDA 25.94
BSY Per share dataBSY EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 -2 4 -4

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates BSY does not grow enough to justify the current Price/Earnings ratio.
  • BSY has an outstanding profitability rating, which may justify a higher PE ratio.
  • BSY's earnings are expected to grow with 12.92% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.45
PEG (5Y)2.28
EPS Next 2Y12.52%
EPS Next 3Y12.92%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. Dividend

5.1 Amount

  • With a yearly dividend of 0.82%, BSY is not a good candidate for dividend investing.
  • The stock price of BSY dropped by -22.59% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
  • Compared to an average industry Dividend Yield of 0.60, BSY pays a better dividend. On top of this BSY pays more dividend than 89.42% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.80, BSY's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.82%

5.2 History

  • BSY has been paying a dividend for over 5 years, so it has already some track record.
  • BSY has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)N/A
Div Incr Years2
Div Non Decr Years4
BSY Yearly Dividends per shareBSY Yearly Dividends per shareYearly Dividends per share 2020 2021 2022 2023 2024 2025 0.05 0.1 0.15 0.2 0.25

5.3 Sustainability

  • 30.41% of the earnings are spent on dividend by BSY. This is a low number and sustainable payout ratio.
DP30.41%
EPS Next 2Y12.52%
EPS Next 3Y12.92%
BSY Yearly Income VS Free CF VS DividendBSY Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
BSY Dividend Payout.BSY Dividend Payout, showing the Payout Ratio.BSY Dividend Payout.PayoutRetained Earnings

More info and screens

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BENTLEY SYSTEMS INC-CLASS B

NASDAQ:BSY (2/25/2026, 8:00:02 PM)

After market: 32.48 0 (0%)

32.48

+0.14 (+0.43%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)11-05
Earnings (Next)02-26
Inst Owners46.83%
Inst Owner Change4.69%
Ins Owners40.33%
Ins Owner Change-0.53%
Market Cap9.86B
Revenue(TTM)1.46B
Net Income(TTM)269.25M
Analysts78
Price Target55.07 (69.55%)
Short Float %8.81%
Short Ratio5.78
Dividend
Industry RankSector Rank
Dividend Yield 0.82%
Yearly Dividend0.24
Dividend Growth(5Y)N/A
DP30.41%
Div Incr Years2
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)4.45%
Min EPS beat(2)-2.54%
Max EPS beat(2)11.45%
EPS beat(4)2
Avg EPS beat(4)4.67%
Min EPS beat(4)-4.04%
Max EPS beat(4)13.82%
EPS beat(8)5
Avg EPS beat(8)9.68%
EPS beat(12)9
Avg EPS beat(12)11.56%
EPS beat(16)13
Avg EPS beat(16)13.89%
Revenue beat(2)1
Avg Revenue beat(2)-0.11%
Min Revenue beat(2)-0.85%
Max Revenue beat(2)0.63%
Revenue beat(4)2
Avg Revenue beat(4)-0.34%
Min Revenue beat(4)-1.14%
Max Revenue beat(4)0.63%
Revenue beat(8)3
Avg Revenue beat(8)-0.85%
Revenue beat(12)6
Avg Revenue beat(12)-0.02%
Revenue beat(16)8
Avg Revenue beat(16)0.08%
PT rev (1m)-2.5%
PT rev (3m)-7.32%
EPS NQ rev (1m)0.27%
EPS NQ rev (3m)0.92%
EPS NY rev (1m)0.12%
EPS NY rev (3m)-1.86%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.43%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.2%
Valuation
Industry RankSector Rank
PE 28.24
Fwd PE 23.98
P/S 6.75
P/FCF 21.43
P/OCF 20.6
P/B 8.25
P/tB N/A
EV/EBITDA 25.94
EPS(TTM)1.15
EY3.54%
EPS(NY)1.35
Fwd EY4.17%
FCF(TTM)1.52
FCFY4.67%
OCF(TTM)1.58
OCFY4.85%
SpS4.81
BVpS3.94
TBVpS-4.6
PEG (NY)2.45
PEG (5Y)2.28
Graham Number10.09
Profitability
Industry RankSector Rank
ROA 7.77%
ROE 22.53%
ROCE 13.59%
ROIC 10.86%
ROICexc 11.6%
ROICexgc N/A
OM 24.23%
PM (TTM) 18.44%
GM 81.2%
FCFM 31.52%
ROA(3y)7.42%
ROA(5y)7.4%
ROE(3y)30.01%
ROE(5y)29.96%
ROIC(3y)8%
ROIC(5y)10.54%
ROICexc(3y)8.22%
ROICexc(5y)11.91%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)10%
ROCE(5y)13.18%
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3Y4.29%
ROICexc growth 5Y-15.93%
OM growth 3Y5.52%
OM growth 5Y3.69%
PM growth 3Y21.55%
PM growth 5Y4.39%
GM growth 3Y1.43%
GM growth 5Y0.13%
F-Score8
Asset Turnover0.42
Health
Industry RankSector Rank
Debt/Equity 1.04
Debt/FCF 2.71
Debt/EBITDA 2.97
Cap/Depr 27.71%
Cap/Sales 1.26%
Interest Coverage 32.41
Cash Conversion 113.9%
Profit Quality 170.89%
Current Ratio 0.61
Quick Ratio 0.61
Altman-Z 3.23
F-Score8
WACC10.38%
ROIC/WACC1.05
Cap/Depr(3y)27.47%
Cap/Depr(5y)32.2%
Cap/Sales(3y)1.59%
Cap/Sales(5y)1.72%
Profit Quality(3y)148.6%
Profit Quality(5y)185.51%
High Growth Momentum
Growth
EPS 1Y (TTM)8.49%
EPS 3Y8.4%
EPS 5Y12.41%
EPS Q2Q%12.5%
EPS Next Y11.5%
EPS Next 2Y12.52%
EPS Next 3Y12.92%
EPS Next 5Y14.67%
Revenue 1Y (TTM)11.12%
Revenue growth 3Y11.93%
Revenue growth 5Y12.93%
Sales Q2Q%12.05%
Revenue Next Year10.24%
Revenue Next 2Y10.33%
Revenue Next 3Y10.35%
Revenue Next 5Y10.82%
EBIT growth 1Y22.88%
EBIT growth 3Y18.11%
EBIT growth 5Y17.09%
EBIT Next Year16.54%
EBIT Next 3Y14.79%
EBIT Next 5Y17.29%
FCF growth 1Y34.82%
FCF growth 3Y15.91%
FCF growth 5Y22.26%
OCF growth 1Y30.85%
OCF growth 3Y14.76%
OCF growth 5Y20.58%

BENTLEY SYSTEMS INC-CLASS B / BSY FAQ

Can you provide the ChartMill fundamental rating for BENTLEY SYSTEMS INC-CLASS B?

ChartMill assigns a fundamental rating of 5 / 10 to BSY.


Can you provide the valuation status for BENTLEY SYSTEMS INC-CLASS B?

ChartMill assigns a valuation rating of 4 / 10 to BENTLEY SYSTEMS INC-CLASS B (BSY). This can be considered as Fairly Valued.


Can you provide the profitability details for BENTLEY SYSTEMS INC-CLASS B?

BENTLEY SYSTEMS INC-CLASS B (BSY) has a profitability rating of 8 / 10.


What are the PE and PB ratios of BENTLEY SYSTEMS INC-CLASS B (BSY) stock?

The Price/Earnings (PE) ratio for BENTLEY SYSTEMS INC-CLASS B (BSY) is 28.24 and the Price/Book (PB) ratio is 8.25.


What is the financial health of BENTLEY SYSTEMS INC-CLASS B (BSY) stock?

The financial health rating of BENTLEY SYSTEMS INC-CLASS B (BSY) is 3 / 10.